Bank offers credit without prepayment.

The reason to look for a loan with no upfront costs is obvious. It is the understandable fear to pay money without getting a loan when the liquidity is already scarce.

Our credit advisor on loan brokering costs will inform you when a broker can legally ask you to checkout. In addition, we will inform you about typical tricks that make the business of the black sheep of the credit brokerage interesting.

Credit with no upfront costs – what does the law say *?

Finding a loan with no upfront costs is a perennial favorite. Due to media attention, the fraud model of “rip-off” about preliminary costs became public many years ago. Nevertheless, people still fall for the cheap fraud model of illegally working intermediaries. According to German Company, intermediaries are legally permitted to bill for their services.

You will only receive a commission if the customer has signed a legally binding loan contract. In addition, the lender must have performed the loan agreement. – Say the loan has been paid out, all withdrawal periods have expired. Furthermore, the legislature grants the mediator the right to have his expenses reimbursed. An example of expenses would be writing costs, travel expenses for home visits. Everything else is illegal.

(* Only legally binding information may be given. The preceding statements correspond to the legal opinion / personal opinion of the author and are therefore not binding).

Why do people pay upfront costs when it’s forbidden?

The fraud model is described with the preliminary cost fraud of victims as “systematic brainwashing”. It’s a story between loan denial and hope. Before people became victims of fraud, they often looked in vain for a long time in vain. You know about the risk of paying in advance. It is also clear to most that reputable intermediaries only provide credit without any upfront costs. Nevertheless, they pay in the hope that it will work this time. They don’t want to annoy the “helper in need” or are even put under massive pressure.

The legal model of selling insurance and investments also works in a similar way. Again the broker seems to know a way out of the credit crunch. An investment, such as life insurance, is intended to secure the future loan. From a commercial point of view, this is of course nonsense. Life insurance, the savings contract and other investments only secure a loan in the amount actually paid. (Redemption value). In the case of a “fresh” insurance contract, the customer actually only pays the agent’s commission in the first few years.

The intermediary is also aware that any permanently closed payment obligation further reduces credit opportunities. Money that goes into a savings contract or for life insurance is no longer available to service the installments. Lending is therefore even less likely than before. To put it bluntly, the loan without any preliminary costs with a “savings contract” is even worse than losing 100 USD for preliminary costs.

Our tip:

Reputable intermediaries offer a loan. No further business proposals will come before it has not been successfully approved and paid out.

How do prospective customers recognize legitimate offers?

Serious credit brokering can do without excessive advertising statements. If the credit rating is poor, no serious loan offer with disbursement at a “rapid pace” is to be expected. (Exception microcredit). If you are looking for the Credit Bureau-free loan from a foreign bank, the real loan offer is not a housewife loan without a credit rating. It is not a blitz loan waiting in the account within 48 hours. The application itself takes time because everything has to be done by post.

It is also not a loan with no upfront costs. Each applicant must pay for the preliminary costs themselves using the post-ID procedure and the certification of the documents to be submitted.

In the case of a loan without Credit Bureau, the intermediary is automatically paid directly by the foreign bank. Reputable brokers do not try to collect additional money from the customer. If so – the loan without Credit Bureau comes from Cream Bank from Liechtenstein. Direct application is allowed. Anyone who was satisfied with the work of their intermediary must state their name on the application form. All others do not give the name. You don’t save a cent, but the agent also gets nothing.

Simply exclude risks – one application is sufficient if the credit rating is negative

As far as is understandable, only a handful of banks grant loans of any significant amount despite Credit Bureau. Only a foreign bank is legitimized for the loan without Credit Bureau. Jumping from broker to broker is the greatest risk of finding bad credit credit.

It is enough to apply for the loan through an intermediary at no cost in order to explore all credit opportunities. If a loan is rejected, credit opportunities only arise if the personal requirements improve.

Another attempt without taking any risks could be a success for Good Finance or Best Lender. Personal loan follows its own rules. Private investors do not have to be measured against bank standards with their offer for a loan without upfront costs. You can give credit to anyone you want to entrust your money to.

From this point of view, the chances of a private loan approval are higher than at any bank. The two market leaders have been praised for the serious business model for years. The loan offered without upfront costs is not only real, it has also been researched 1000 times by the media. If the credit attempt fails, it took some time, but definitely no money.